GE head Immelt: No magic potion on jobs

GREENVILLE, S.C. (AP) — The chairman of President Barack Obama’s jobs and competitiveness council says there is no magic potion to jobs creation, but the panel is devising pragmatic plans to put people back to work.

General Electric Co. Chairman and CEO Jeffrey Immelt spoke Wednesday with employees during a visit to his company’s gas turbine plant in Greenville, South Carolina.

Immelt says his four months on the Obama advisory panel has taught him that even his company can be held accountable for where it creates jobs. He says the panel is working on devising a hundred different business plans with practical steps to help create jobs.

Immelt also defended his role on the panel, saying American business leaders should help their country. Obama tapped Immelt to lead the Council on Jobs and Competitiveness in January.